‏إظهار الرسائل ذات التسميات Suresh Kumar. إظهار كافة الرسائل
‏إظهار الرسائل ذات التسميات Suresh Kumar. إظهار كافة الرسائل

IIT-Madras alumnus Suresh Kumar to be New CTO & CDO of Walmart

This week, the US based global retail chain behemoth, Walmart has appointed Suresh Kumar, an IIT Madras graduate and former Google executive, as chief technology officer (CTO) and chief development officer (CDO). He is an engineering graduate from the Indian Institute of Technology, Madras (1987 batch), and a PhD in engineering from Princeton University (1992).

His appointment comes as Walmart is undertaking major investments in its e-commerce business to compete more effectively with Amazon.

The appointment comes after Walmart's previous CTO Jeremy King left the company to join Pinterest.

Suresh Kumar, who will report directly to Walmart CEO Doug McMillon, will join the retail behemoth from July 8. He will be based out of the company’s Sunnyvale, California, office. The 54-year-old will fill in the shoes of Jeremy King, Walmart’s longtime CTO, who left the company in March.

Walmart’s Chief Information Officer Clay Johnson will report to Kumar, as will the technology chiefs at Walmart’s main operating units — US, international and Sam’s Club.

Suresh, 54, and his wife Gayathri currently live in Cupertino, CA and have two daughters. He will join Walmart at Sunnyvale office, officially starting on July 8.

Prior to Google, Suresh was the Corporate Vice President of Microsoft’s Cloud Infrastructure and Operations and before that he spent 15 years at Amazon Inc in various leadership roles, including Vice President of Technology for Retail Systems & Operations, and he led Amazon’s retail supply chain and inventory management systems. Before Amazon, Suresh was a research staff member at IBM T J Watson Research Center.

According to Suresh's LinkedIn profile, he has 25 years of software development experience with a proven track record of managing and delivering mission critical projects in e-commerce and managing 24x7 systems and operations.He has expertise in supply chain management and retail processes including inventory management, fulfillment operations, pricing, demand forecasting, vendor management and catalog operations.



“The technology of today and tomorrow enables us to serve our customers and associates in ways that weren’t previously possible. We want to take full advantage of those opportunities," said McMillon.

"Suresh has a unique understanding of the intersection of technology and retail, including supply chain, and has deep experience in advertising, cloud and machine learning. And, he has a track record of working in partnership with business teams to drive results," Walmart CEO added.

"Walmart is one of the great success stories in how a company evolves over time to serve the changing needs of its customers, and today, it is in the midst of an exciting digital transformation," Kumar said.

With over 11,000 stores, a high-growth e-commerce business and more than two million associates worldwide, the potential for technology to help people at scale is unparalleled, Kumar added.

Logistics Tech Startup FreightBro Raises Seed Funding from Former CIO of of Bank of New York Mellon

Chennai-based logistics tech startup FreightBro has raised an undisclosed amount in a seed round from Suresh Kumar, former global CIO of Bank of New York Mellon. With this funding, Kumar joins the company as an advisor. Kumar’s vast experience in running over 10,000 employees will be helpful for FreightBro’s wide expansion throughout the nation and world.

The funds raised will be used by the startup towards product development and expansion. The company is focusing on Chennai and Mumbai and will look at covering other port towns subsequently.

Founded in 2016 by Anand Babu, Raghavendran Viswanathan and Mohammed Zakkiria, FreightBro is a tech startup aiming to revolutionize the trillion-dollar international freight Industry. The startup leverages the power of technology, that enables freight forwarders to make data-driven decisions, predict changes in the market and provide better value to shippers.

It provides freight forwarders and 3PLs state of the art IT tools to maintain and enhance their process chain. One of its flagship products, InstaQuotes, is a SaaS (Software as a Service) platform that will enable forwarders to quote their procured rates in less than two mins and efficiently manage their buying and selling prices. The startup claims that, InstaQuotes has proven to decrease the cost of sales by 50% and improve operational efficiency in vendor rate management.

The startup has established partnerships with cargo shippers such as Maersk, Emirates, Safmarine, and ONE.

Speaking about the investor, Suresh Kumar, he had worked for several industries like online commerce, brokerage workstation platforms, outsourcing, and big data. With over 30 years of experience, he was once inducted into CIO Magazine’s Hall of Fame in 2016.

Welcoming Suresh to the FreightBro's board, Raghavendran Vishwanathan, CEO, FreightBro, says, “Suresh is a veteran of banking and financial services technologies. Over the past 30 years, he has led the financial services industry in online commerce, brokerage workstation platforms, outsourcing, big data, and most recently blockchain technology. With this strategic alliance and investment, FreightBro is moving forward to expand aggressively across all major and minor port cities of India by the end of 2018. I’m looking forward to advising the firm in their efforts to scale up and deploy the best of the emerging technologies to the shipping industry."

According to industry sources, the global logistics market is currently estimated to be around $3.5 trillion. India spends around 14.4 percent of its GDP on logistics and transportation compared to less than 8 percent by the other developing countries. India’s freight transport market is expected to grow at a CAGR of 13.35 percent by 2020. Cogoport has clocked an annual run rate of $10 million so far, with ocean freight accounting for 95% of it.

Last month, a plenty of logistics startup have had raised funds including Bengaluru-based Mojro, which raised $650K in a funding round led by 1Crowd and its investor community followed by $2 million funding of Chennai-based Pando, in a seed funding round led by Nexus Venture Partners.

In the same month, Mumbai-based online freight logistics startup Cogoport has raised about Rs. 40 crore in Series A funding round from private equity investor Accel Partners.

Source - Times of India | Top Image - Yourstory.com

Logistics Tech Startup FreightBro Raises Seed Funding from Former CIO of of Bank of New York Mellon

Chennai-based logistics tech startup FreightBro has raised an undisclosed amount in a seed round from Suresh Kumar, former global CIO of Bank of New York Mellon. With this funding, Kumar joins the company as an advisor. Kumar’s vast experience in running over 10,000 employees will be helpful for FreightBro’s wide expansion throughout the nation and world.

The funds raised will be used by the startup towards product development and expansion. The company is focusing on Chennai and Mumbai and will look at covering other port towns subsequently.

Founded in 2016 by Anand Babu, Raghavendran Viswanathan and Mohammed Zakkiria, FreightBro is a tech startup aiming to revolutionize the trillion-dollar international freight Industry. The startup leverages the power of technology, that enables freight forwarders to make data-driven decisions, predict changes in the market and provide better value to shippers.

It provides freight forwarders and 3PLs state of the art IT tools to maintain and enhance their process chain. One of its flagship products, InstaQuotes, is a SaaS (Software as a Service) platform that will enable forwarders to quote their procured rates in less than two mins and efficiently manage their buying and selling prices. The startup claims that, InstaQuotes has proven to decrease the cost of sales by 50% and improve operational efficiency in vendor rate management.

The startup has established partnerships with cargo shippers such as Maersk, Emirates, Safmarine, and ONE.

Speaking about the investor, Suresh Kumar, he had worked for several industries like online commerce, brokerage workstation platforms, outsourcing, and big data. With over 30 years of experience, he was once inducted into CIO Magazine’s Hall of Fame in 2016.

Welcoming Suresh to the FreightBro's board, Raghavendran Vishwanathan, CEO, FreightBro, says, “Suresh is a veteran of banking and financial services technologies. Over the past 30 years, he has led the financial services industry in online commerce, brokerage workstation platforms, outsourcing, big data, and most recently blockchain technology. With this strategic alliance and investment, FreightBro is moving forward to expand aggressively across all major and minor port cities of India by the end of 2018. I’m looking forward to advising the firm in their efforts to scale up and deploy the best of the emerging technologies to the shipping industry."

According to industry sources, the global logistics market is currently estimated to be around $3.5 trillion. India spends around 14.4 percent of its GDP on logistics and transportation compared to less than 8 percent by the other developing countries. India’s freight transport market is expected to grow at a CAGR of 13.35 percent by 2020. Cogoport has clocked an annual run rate of $10 million so far, with ocean freight accounting for 95% of it.

Last month, a plenty of logistics startup have had raised funds including Bengaluru-based Mojro, which raised $650K in a funding round led by 1Crowd and its investor community followed by $2 million funding of Chennai-based Pando, in a seed funding round led by Nexus Venture Partners.

In the same month, Mumbai-based online freight logistics startup Cogoport has raised about Rs. 40 crore in Series A funding round from private equity investor Accel Partners.

Source - Times of India | Top Image - Yourstory.com

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